Following over 10x Performance of its First Fund, at.inc/ -- The Seed Fund That Partners With Founders "At Incorporation" (formerly known as Tank Hill Ventures) -- Raises Oversubscribed $35M Fund II

Notable investments include leading Netlify's seed round (valued at $2B, a 100x markup) as well as early-stage positions in HoneyBook (valued at $2.4B), Opendoor (IPO'd last year), Tipalti (valued at $8.3B), Placer (valued at $1B), HomeLight (via acquisition of Disclosures.io), and Peer5 (acquired by Microsoft)

SAN FRANCISCO, March 24, 2022 /PRNewswire/ -- at.inc/ today announced it has closed on an oversubscribed $35 million Fund II to double down on its fund strategy of investing globally in founders "at incorporation" and backing them all the way with flexible capital from its influential limited partner network. In this new fund Nadav Eylath is partnering with 20+ year high school friend Roni Bonjack to combine his proven track record leading seed rounds with Roni's operational expertise in building and scaling startup programs for Google and Facebook globally. Bonjack was the person who scaled Google Launchpad from a pilot to a global program. She also led Developer and Startup Programs for Facebook, where she's built accelerators in five countries throughout EMEA. The fund is backed by LPs that include founders of the top performing VCs, private equity, hedge, and secondary funds in the US, as well as corporate executives, and founders of unicorns that at.inc/ has backed since inception.

"We invest based on our own conviction when we connect to the founder's vision and mission and then back founders continuously, throughout the best and toughest times alike," said Eylath. "We've already made remarkable investments out of this new fund in frontier startups that are addressing big problems in sustainability, bluetech, spacetech, urbantech and XR."

Venture is evolving rapidly and has more capital in the system than ever, so it is not only about access to capital anymore, but rather the investors that add the most value. As a result, at.inc/ has built a different model, by partnering with startups at day one from its core fund, when it's too early for others, and provides continuity, capital, and support throughout the journey. at.inc/ also follows up its initial investments in multiple late stage rounds, as demonstrated in its Netlify, HoneyBook, and Placer multiple round deals. While many other seed funds today are localized or specializing in certain domains or segments, at.inc/ brings a global, generalist approach, having already made investments in founders from the US, UK, Israel, Scotland and Denmark. It is bringing the "Silicon Valley playbook" to the global market.

"As former operators, our goal is to make the Silicon Valley playbook and mindset accessible to founders, regardless of geography," said Bonjack. "By partnering with founders as early as day one, we become the founder's ally in establishing product market fit, building the team, and setting foundations for hyper-growth. We're humbled by the caliber of the founders we already work with and we're excited to continue partnering with founders who dare go after non-obvious markets and clearly articulate how the world is changing and how their solution addresses the change."

Its first fund (2015 vintage) performance is currently more than 10x, with four exits (one IPO), and positions in six unicorns. at.inc/ has already returned over 50 percent of invested capital to its LPs.

"When Nadav met us, he instantly understood how the JAMstack could supercharge the Internet and provided a long-term, patient, approach to support our mission to make a more independent web that is faster, simpler and safer," said Chris Bach, co-founder of Netlify, who recently raised $100M from Bessemer.

"From my experience, investors with deep conviction in what your company is doing are very important to have on your cap table," said Oz Alon, co-founder and CEO of HoneyBook." In tough times, nobody wants to invest, but the ones who have their own individual conviction, will see it as an opportunity. The pandemic has been a trying time for many companies but thanks in large part to at.inc/'s conviction investing 18x their pro-rata we have come out the other side now valued at $2.4B."

at.inc/ recently graduated from the Coolwater (formerly Oper8r) program, which was started by former Sapphire Ventures and Hall Capital Partners investor Winter Mead. Billed as the "Y Combinator for emerging fund managers," Coolwater served as a powerful launchpad for at.inc/ to continue to build its institutional muscle as well as a strong community of next-gen VCs to collaborate with.

About at.inc/

at.inc/ is a seed stage fund that leads rounds with conviction by partnering with startups at the earliest possible stage, sometimes as early as the idea phase. We dive in with founders from day one, supporting their mission with capital, guidance, strategic, and operational support continuously throughout the company's journey. Led by general partners Nadav Eylath and Roni Bonjack, at.inc/ combines a top 5 percent investment return track record with deep operational expertise in building and scaling startups. For more information, visit at.inc/.

SOURCE at.inc/